The global endovascular aneurysm repair market was valued at $2,646.6 million in 2020 and is projected to reach $4,356.2 million by 2030, growing at a CAGR of 4.8% from 2020 to 2030.
Endovascular aneurysm repair (EVAR) is an preferred treatment option for aortic aneurysm, owing to its advantages over open surgery. These advantages include shorter hospital stay, quick recovery time, improved patient outcomes, and no abdominal surgery. Hence, this EVAR procedure is known as standard intervention for abdominal aortic aneurysm (AAA). In this procedure, a stent is placed in aneurysmal area of the aorta to provide permanent alternative channel for blood flow within the patient’s vasculature, thereby preventing aneurysmal sac from blood flow pressure and rupturing.
Although EVAR has significantly reduced operative risks and recovery time as compared to conventional open surgery, it is still possible to make improvements to the EVAR.. This is attributed to the fact that there have been cases of endoleaks post EVAR procedure. However, to meet such challenges, market players have developed next generation advanced technologies. For instance, Endologix Inc. received FDA approval for its percutaneous endograft delivery system and has a game-changing new generation Nellix technology, the first and only endovascular sealing product beneficial in preventing all types of endoleaks.
The increase in vascular diseases among population such as pulmonary embolism, cardiac disorders, and atherosclerosis, rise the demand for grafts for treatment, which, in turn, drives the growth of the EVAR market. . Furthermore, government is taking initiatives to increase awareness related to availability of aneurysm treatment procedures and devices. Inflated cost associated with EVAR treatment procedures and lack of awareness among people are some of the factors expected to hamper the growth of the market
The major players such as Terumo Medical Corporation, Koninklijike Philips N.V., and Medtronic PLC. are adopting the product launch strategy to improve their product portfolio to maintain competition in the market. For instance, in December 2020, Terumo launched the first commercial case of aortic balloon in the U.S. This device assists physicians in the expansion of aorta, using TREO and RELAY stent-grafts in endovascular aortic repair. Such instances are expected to provide lucrative opportunities to the major players for the growth of the market.
The COVID-19 pandemic forced many companies in the global EVAR market to halt business operations for short term to comply with new government regulations, limiting the spread of the disease. This halt in operations directly impacted revenue flow of the global EVAR market. In addition, there was a halt in manufacturing of industrial products, owing to lack of raw materials and manpower in the lockdown period. Furthermore, no new consignments were received by companies that operated in this sector. Hence, halt in industrial activities and lockdowns for several months affected the global EVAR market, experiencing a gradual recovery during the forecast period.
The EVAR market is segmented on the basis of indication, products, site, anatomy, and region. Depending on indication, it is divided into AAA and thoracic aortic aneurysm (TAA). According to site, it is bifurcated into infrarenal and pararenal. As per the anatomy, it is categorized into traditional and complex. By product, it is segregated into percutaneous EVAR, fenestrated EVAR, aortic stents & TAA grafts and others.. By indication, the AAA segment occupied dominant share of 77.9% in 2020, and TAA is expected maintain this trend during the forecast period, owing to high occurrences of AAA disease across the globe.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to hold the highest market share during the forecast period.
Endovascular aneurysm repair (EVAR) is an preferred treatment option for aortic aneurysm, owing to its advantages over open surgery. These advantages include shorter hospital stay, quick recovery time, improved patient outcomes, and no abdominal surgery. Hence, this EVAR procedure is known as standard intervention for abdominal aortic aneurysm (AAA). In this procedure, a stent is placed in aneurysmal area of the aorta to provide permanent alternative channel for blood flow within the patient’s vasculature, thereby preventing aneurysmal sac from blood flow pressure and rupturing.
Although EVAR has significantly reduced operative risks and recovery time as compared to conventional open surgery, it is still possible to make improvements to the EVAR.. This is attributed to the fact that there have been cases of endoleaks post EVAR procedure. However, to meet such challenges, market players have developed next generation advanced technologies. For instance, Endologix Inc. received FDA approval for its percutaneous endograft delivery system and has a game-changing new generation Nellix technology, the first and only endovascular sealing product beneficial in preventing all types of endoleaks.
The increase in vascular diseases among population such as pulmonary embolism, cardiac disorders, and atherosclerosis, rise the demand for grafts for treatment, which, in turn, drives the growth of the EVAR market. . Furthermore, government is taking initiatives to increase awareness related to availability of aneurysm treatment procedures and devices. Inflated cost associated with EVAR treatment procedures and lack of awareness among people are some of the factors expected to hamper the growth of the market
The major players such as Terumo Medical Corporation, Koninklijike Philips N.V., and Medtronic PLC. are adopting the product launch strategy to improve their product portfolio to maintain competition in the market. For instance, in December 2020, Terumo launched the first commercial case of aortic balloon in the U.S. This device assists physicians in the expansion of aorta, using TREO and RELAY stent-grafts in endovascular aortic repair. Such instances are expected to provide lucrative opportunities to the major players for the growth of the market.
The COVID-19 pandemic forced many companies in the global EVAR market to halt business operations for short term to comply with new government regulations, limiting the spread of the disease. This halt in operations directly impacted revenue flow of the global EVAR market. In addition, there was a halt in manufacturing of industrial products, owing to lack of raw materials and manpower in the lockdown period. Furthermore, no new consignments were received by companies that operated in this sector. Hence, halt in industrial activities and lockdowns for several months affected the global EVAR market, experiencing a gradual recovery during the forecast period.
The EVAR market is segmented on the basis of indication, products, site, anatomy, and region. Depending on indication, it is divided into AAA and thoracic aortic aneurysm (TAA). According to site, it is bifurcated into infrarenal and pararenal. As per the anatomy, it is categorized into traditional and complex. By product, it is segregated into percutaneous EVAR, fenestrated EVAR, aortic stents & TAA grafts and others.. By indication, the AAA segment occupied dominant share of 77.9% in 2020, and TAA is expected maintain this trend during the forecast period, owing to high occurrences of AAA disease across the globe.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to hold the highest market share during the forecast period.
Key Benefits For Stakeholders
- The endovascular aneurysm repair industry report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the endovascular aneurysm repair market analysis from 2020 to 2030 to identify the prevailing endovascular aneurysm repair market opportunities.
- The endovascular aneurysm repair market size research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the endovascular aneurysm repair market segmentation assists to determine the prevailing market opportunities.
- The endovascular aneurysm repair market size from 2020 to 2030 with a market drivers, and restraints.
- Major countries in each region are mapped according to their revenue contribution to the global endovascular aneurysm repair industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global endovascular aneurysm repair market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Indication
- Abdominal Aortic Aneurysm (Aaa)
- Thoratic Aortic Aneurysm (Taa)
By Site
- Infrarenal
- Pararenal
By Anatomy
- Traditional
- Complex
By Product
- Percutaneous Evar
- Fenestrated Evar
- Aortic Stents Taa Graft
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Abbott Laboratories
- Becton, Dickinson and Company
- Cardinal Health Inc
- cook medical
- Endologix Inc
- Lombard Medical Inc
- Medtronic Plc
- Koninklijke Philips N.V.
- Terumo Medical Corporation
- W. L. Gore & Associates Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENDOVASCULAR ANEURYSM REPAIR MARKET, BY INDICATION
CHAPTER 5: ENDOVASCULAR ANEURYSM REPAIR MARKET, BY SITE
CHAPTER 6: ENDOVASCULAR ANEURYSM REPAIR MARKET, BY ANATOMY
CHAPTER 7: ENDOVASCULAR ANEURYSM REPAIR MARKET, BY PRODUCT
CHAPTER 8: ENDOVASCULAR ANEURYSM REPAIR MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Endovascular Aneurysm Repair Market,' endovascular aneurysm repair market size was valued at $2,646.60 million in 2020, and is estimated to reach $4,359.20 million by 2030, growing at a CAGR of 4.8% from 2021 to 2030.The endovascular aneurysm repair market trends are increase in adoption of endovascular stent grafts and development of next-generation stent grafts, such as Excluder (W. L. Gore & Associates, Inc.), Zenith (Cook Medical Inc.), and others. In addition, endovascular aneurysm repair market rise in awareness about availability of wide range of aortic aneurysm devices in developing countries attracts the patient population, which is expected to provide lucrative growth opportunities for endovascular aneurysm repair market. However, inflated cost of evar procedure and risks associated with these procedures restrain the market growth. Furthermore, untapped emerging economies present lucrative opportunities for the market.
The endovascular aneurysm repair market is segmented on the basis of indication, site, anatomy, product, and region. Depending on indication, the market is classified into abdominal aortic aneurysm and thoracic aortic aneurysm. Abdominal aortic aneurysm segment dominated the market in 2020.
On the basis of site, the market is categorized into infrarenal and pararenal, further pararenal segment is bifurcated into juxtarenal and suprarenal. Infrarenal segment have the highest revenue followed by pararenal. Infrarenal segment is expected to grow at a CAGR of 4.5% during the forecast period. The endovascular aneurysm repair market forecast was $4,359.2 million by 2030.
The endovascular aneurysm repair market industry is drives by factors such as rise in incidence of chronic diseases among population, which in turn, rise in demand for endovascular aneurysm repair products.
Endovascular aneurysm repair market analysis is done on the basis of anatomy, indication, site, and product types segment. Depending on anatomy, the market is divided into traditional and complex. The traditional segment holds the maximum share in the endocascular aneurysm market industry, followed by the complex segment.
By product, the market is categorized into percutaneous EVAR, fenestrated EVAR, and aortic stents & TAA grafts. Percutaneous segment dominated the market in 2020.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest endovascular aneurysm repair market share in 2020, and is expected to maintain its dominance throughout the forecast period, owing to increase in number of evar procedure in the U.S. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for endovascular aneurysm repair market growth.
The key players in the global endovascular aneurysm repair market industry include Medtronic plc., Cook Medical Inc., Endologix, Inc., Lombard Medical, Inc., W. L. Gore & Associates, Inc., Cardinal Health Inc., Becton Dickison and Company, Terumo Corporation, Abbott Laboratories, and Konninklijke Philips N.V.
Several manufacturers in the global endovascular aneurysm repair market industry halted their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the endovascular aneurysm repair manufacturing companies. For instance, net sales of Microport scientific corporation dropped by 18.2% from April 2020 to March 2021. In addition, lack of man power and raw materials affected the supply chain of the global endovacsular aneurysm repair market. However, the market is anticipated to cover from the 1st quarter of 2023, due to less restrictions and reopening of the global endovascular aneurysm repair market industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace at the start of 2022.
Companies Mentioned
- Abbott Laboratories
- Becton, Dickinson and Company
- Cardinal Health Inc
- cook medical
- Endologix Inc
- Lombard Medical Inc
- Medtronic Plc
- Koninklijke Philips N.V.
- Terumo Medical Corporation
- W. L. Gore & Associates Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 170 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 2646.6 million |
| Forecasted Market Value ( USD | $ 4356.2 million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
